5. Whoever takes goods (on credit) and becomes bankrupt,
then again takes goods and again becomes bankrupt,
then takes goods again and yet again becomes bankrupt
is to be put to death after the third time.
The Great Yasa of Genghis Khan

Yup. Bailout -- Mongol way. We let you to default twice, but you better be careful for the third time.
The funeral of Chagatai, from
Jami' al-tawarikh, or
Universal History -- an Iranian work of literature and history written by Rashid-al-Din Hamadani.
Entire Mongol Nation was mourning Chagatai! He was considered hot-headed and somewhat temperamental by his relatives, because of his attitude of absolute non-acceptance of Jochi as Great Khan. He was the most vocal about this issue among his relations. After completing
The Yasa Genghis Khan entrusted his second son Chagatai to enforce it and he was so adamand in doing so that many people had a great fear and respect for him. Marco Polo mentiones that not long before his death Chagatai Khan converted to Christianity but there are no other sources to support this claim.
The days of mourning were also days of reflection for Genghis Khan and Mongol elders. Unlike other wise men Mongol wise men never concern themselves with the useless silly contemplations, like "What shall we research next?.." The most important question always was and is: "Whom should we conquer next?" With Northern China conquered and Caliphate collapsed we have two more wars on our hands: the one with Russia and the other one with Byzantine Empire. There was no Baghdad in Mesopotamia in AD 1228, instead there was a Byzantine Ctesiphon, guarded by two archers:
During the same year Genghis Khan proposed and approved the following plan:
1. Burn Ctesiphon/Baghdad to the ground!
2. Subutai and Jebe to bypass Byzantine strongholds in Caucasus and to undertake their famous
raid, attacking Russia from the south.
3. Jochi has to wait in Central Asia for his grandsons Batu Khan and Berke Khan, plus our Mongol-Tatar migrants forming ulus of Jochi (Settlers) -- those forces are to attack the Russia from the east. Our migrants shall continue lead a nomad's life around the lower Volga River and never settle a city.
4. Chagatai Ulus protected by a Longbowmen should do the very same thing around the Central Asia's Ili river basin. Protection of our settlers who never settle is one of the most important goals in History of Mongols.
5. Genghis Khan, his third son and heir Ogedei will follow Subutai and Jebe across the Caucasus mountains so that all the Mongol forces could unite in Southern Russia and deliver a blow to Moscow, which oddly was the first Russian capital, instead of Kiev.
Finally....
6. Tolui and his few Chinese forces are to arrive to Middle East and mop what was left after the collapse of the Caliphate.
It's worth noting that Russia had more cities than we had Keshiks at that time so the Russian war was promising to be long and brutal. If left unchecked Russian population would spread across the Siberia like a wildfire. On the other hand our shamans predicted that Byzantium will soon loose lots of her cities to Ottoman Turks. History and strategical situation was demanding to focus on the Russia first.
Before the implementing his brilliant plant Genghis divided his Empire among the houses of his 4 sons:
Later they will be known as Empire of the Great Khan (Yuan Dynasty), Chagatai Khanate, Ilkhanate and Golden Horde.
Our valiant Keshiks charged Baghdad/Ctesiphon. The battle was swift by siege standards: by February 5 the Mongols controlled a stretch of the wall. Byzantine mayor begged to negotiate, but was refused. On February 10, Baghdad surrendered. The Mongols swept into the city on February 13 and began a week of massacre and destruction:
Even under Byzantine rule the city had a large Muslim community and was rich and cultured urban center. Baghdad used to be one of the most brilliant intellectual centers in the world. The Mongol destruction of Baghdad was a psychological blow from which Islam never recovered. Already Islam was turning inward, becoming more suspicious of conflicts between faith and reason and more conservative. With the sack of Baghdad, the intellectual flowering of Islam was snuffed out. Imagining the Athens of Pericles and Aristotle obliterated by a nuclear weapon begins to suggest the enormity of the blow. The Mongols filled in the irrigation canals and left Iraq too depopulated to restore them.
The advance in Iraq brought us into contact with a beautiful Queen, known as Izzy in some circles. She promptly payed requested tribute:

, no war with Spain!

That Byzantine SoD in Damascus (several promoted Cataphracts) is already sufficient to keep our warmongering masses happy. And sure enough -- Imperial army unleashed full blown attack on Mongol forces. Our boys fought back, heroically decapitating several thousands of Byzantine Heavy Cavalry, but we had some losses too. Most notably the third son of Genghis -- Ogedei -- found his death in flood plains of Iraq

:
He was considered to be his father's favorite son, ever since his childhood. As an adult Ögedei was known for his ability to sway doubters in any debate in which he was involved, simply by the force of his personality. He was a physically big, jovial and very charismatic man, who seemed mostly to be interested in enjoying good times. He was intelligent and steady in character. Unfortunately he was a heavy drinker and there were no RUI (Riding Under Influence) laws in Yasa!